§ 3.2-4203. (Effective October 1, 2008) Withdrawal of escrow funds assigned and contributed to the Commonwealth...
Notwithstanding the provisions of subsection B of § 3.2-4201, any escrow funds assigned and contributed to the Commonwealth pursuant to § 3.2-4202, less the aggregate limitation for incentive payments to all small tobacco product manufacturers for the relevant year due from the escrow funds pursuant to § 58.1-439.15:01, shall be withdrawn by the Commonwealth by request of the State Treasurer to the Attorney General and upon approval of the Attorney General. The State Treasurer shall make such request as soon as practicable and such escrow funds withdrawn shall be deposited into the Virginia Health Care Fund established under § 32.1-366.
After such withdrawal, and after the actual incentive payments pursuant to § 58.1-439.15:01 have been made from the escrow funds in the escrow account, any remaining escrow funds shall be withdrawn under the withdrawal procedures provided in this section, and the withdrawn escrow funds shall be deposited into the Virginia Health Care Fund. Nothing in this article shall be construed to relieve a tobacco product manufacturer from any past, current, or future obligations it may have pursuant to Article 1 (§ 3.2-4200 et seq.) or Article 3 (§ 3.2-4204 et seq.) of this chapter.
(2005, cc. 899, 901, § 3.1-336.2:2; 2008, c. 860.)
Sections: Previous 3.2-4200 3.2-4201 3.2-4202 3.2-4203 3.2-4204 3.2-4205 3.2-4206 3.2-4206.1 3.2-4207 3.2-4208 3.2-4208.1 3.2-4209 3.2-4209.1 3.2-4210 3.2-4211 NextLast modified: April 16, 2009